BOUCHERVILLE, QC, Oct. 25, 2016 /CNW Telbec/ - JAMP Pharma, a Boucherville based generic pharmaceutical company, announces that it has reached a partnership agreement with the Fonds de solidarité FTQ. This partnership includes a major investment representing a minority participation of 31%. This is a decisive shift in JAMP Pharma's growth, since it will provide the company with the means to pursue its goals, as well as giving its management team the latitude to achieve them.
By increasing JAMP Pharma's financial capabilities, the investment by the Fonds de solidarité FTQ will make it possible to significantly increase new product development and, as a result, the company's ability to supply its customers. JAMP Pharma also intends to accelerate its growth across Canada by focusing on the development of complex generic products, in addition to expanding into select international markets. The announcement comes at a time when the company, which just moved into a state-of-the-art facility in Boucherville, has doubled its size to support its anticipated growth.
"JAMP Pharma is a Canadian company that is already experiencing phenomenal growth. We consider it to be a partner of choice for Quebec's economic development as well as for developing our involvement in Canada's generic drug industry. This investment demonstrates our desire and capability to support entrepreneurial initiatives, as well as our pivotal role in the life sciences sector," said Alain Denis, senior vice-president – New Economy, Fonds de solidarité FTQ.
"Our partnership with the Fonds benefits us since we can now increase our presence in Canada, as well as setting our sights on new international markets, while giving our senior management the leeway it needs to do so," added Louis Pilon, JAMP Pharma's president and CEO.
JAMP Pharma, a family-owned company founded in 1988 in British Columbia, has enjoyed dramatic growth since it was acquired in 2006 by Louis Pilon, its president and CEO. The company, currently ranked fourth in its field in Canada for its product portfolio, which will hit $100 million this year, has been growing steadily over the past five years.
About JAMP Pharma
JAMP Pharma is a privately owned Quebec company that employs more than 130 people. It has a broad range of more than 210 molecules available by prescription or over the counter, in a wide variety of dosage forms (oral solids, solutions, injectable, topicals and suppositories). In 2015, more than 15 million prescriptions were filled using JAMP Pharma products. With more than 30 new molecules launched every year, the company is known for launching new products and for its reliable supply chain and high-quality service.
For more information, visit www.jamppharma.com.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. At May 31, 2016, the organization had $11.7 billion in net assets, and through its current portfolio of investments has helped create and protect 187,414 jobs. The Fonds is a partner in more than 2,600 companies and has 618,551 shareholder-savers. For more information, visit www.fondsftq.com.
SOURCE Fonds de solidarité FTQ
Image with caption: "JAMP Pharmas growth supported by Fonds de solidarité FTQ (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20161025_C3822_PHOTO_EN_803055.jpg
Image with caption: "Louis Pilon, President and CEO of JAMP Pharma (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20161025_C3822_PHOTO_EN_803059.jpg
Image with caption: "JAMP Pharma's new head office on Boucherville, Québec. (c) Bénédicte Brocard (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20161025_C3822_PHOTO_EN_803057.jpg
For further information: Frédérick Truchon-Gagnon, Coordinator, NATIONAL Public Relations (for JAMP Pharma), 438-350-1001, [email protected]; Patrick McQuilken, Senior consultant, media relations and communications, Fonds de solidarité FTQ, 514-703-5587, [email protected]